How to Donate Real Estate
By making a gift of real estate, the donation provides you with tax-benefits while making an impact on the lives of local families in need of safe, affordable housing.
- Outright Gift: Donor transfers the property for retention and use by Milwaukee Habitat for Humanity or for immediate liquidation with proceeds benefiting our mission.
- Bargain Sale: Donor sells the property to Milwaukee Habitat for less than its appraised fair market value and receives a charitable deduction for the difference between the value of the property and the sale price.
- Bequest: Donor bequeaths the property to Milwaukee Habitat in his or her will or revocable (living) trust. If a gift of real estate is encumbered by a mortgage or lien, Milwaukee Habitat will request the donor pay off the debt prior to making the donation.
Please consult your financial adviser to determine whether this is a good choice for you.
If you are interested in donating property to Milwaukee Habitat, please fill out this form.
Benefits
- Your charitable gift is tax deductible, usually at the current market value. Tax law may allow you to carry over the deduction for up to five years if needed.
- You eliminate capital gains tax on the property's appreciation.
- The transfer isn't subject to the gift tax, and the gift reduces your future taxable estate.
- Avoid the hassle of selling or maintaining your home.
- Your gift will help build safe, affordable homes in our community.
Property Qualifications
- All back taxes are paid.
- No past due utility bills.
- Property is owned free and clear with no mortgage liens.
- House must be in a habitable condition.